Chevy offered rebates to Bolt EV owners who bought their cars just before a 2023 model price drop, but that discount comes with a large catch. Jalopnik and Autoblog note the rebate application requires that drivers “forever waive and release” their right to sue GM or LG over the Bolt’s reported battery defect. You’d have… Continue reading Chevy Bolt owners must choose between rebates and battery defect lawsuits
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Asia-focused SPAC Catcha Investment 2.0 withdraws $250m US IPOThe withdrawal comes over a year after Catcha filed to raise $275m for its first SPAC
Catcha Investment 2.0, the second blank cheque company formed by Singapore-based internet investment firm Catcha Group, has filed to withdraw its plans to raise $250 million in an initial public offering (IPO) in the US. The special purpose acquisition company (SPAC) earlier filed to raise up to $250 million by offering 25 million units at… Continue reading Asia-focused SPAC Catcha Investment 2.0 withdraws $250m US IPOThe withdrawal comes over a year after Catcha filed to raise $275m for its first SPAC
Thai corporate VCs ramp up venture building in innovation pushThese venture builders are seen to fill gaps in the local tech ecosystem.
Thai conglomerates, who have actively invested in regional and global startups through their corporate venture arms, are ramping up their venture-building programmes to stay on top of the innovation game. Thai industrial groups such as financial services major SCBX, energy sector player PTT and Siam Cement Group (SCG) have been incubating startup ideas internally and… Continue reading Thai corporate VCs ramp up venture building in innovation pushThese venture builders are seen to fill gaps in the local tech ecosystem.
Thai PTT sells coal business to Indonesia’s Astrindo for $471m
Thai state-owned energy firm PTT Pcl said on Tuesday it had agreed to sell its coal unit to Indonesia’s PT Astrindo Nusantara Infrastruktur Tbk for $471 million, as the company moves out of the coal business entirely. The sale was aligned with PTT’s strategy to move towards sustainability and clean energy, chief executive Auttapol Rerkpiboon… Continue reading Thai PTT sells coal business to Indonesia’s Astrindo for $471m
Uber likely seller of 7.8% stake in India’s Zomato
Uber Technologies is the likely seller of a 7.8% stake in Indian food delivery firm Zomato being disposed of via a $373 million block deal on Wednesday, according to a source with direct knowledge of the matter. The offer size of 612 million shares worth $373 million is based on the lower end of a… Continue reading Uber likely seller of 7.8% stake in India’s Zomato
TuSimple addresses autonomous truck crash during Q2 earnings call
Autonomous trucking company TuSimple used its second-quarter earnings call to address an April crash during which one of the company’s autonomous trucks suddenly veered across the I-10 highway in Tuscon, slamming into a concrete barricade. The crash first came to light via a YouTube video that showed footage of the crash along with a letter… Continue reading TuSimple addresses autonomous truck crash during Q2 earnings call
Hear how to accelerate slow-moving industries on TechCrunch Live
Dan Lewis launched Convoy in 2015 into an established industry dominated by several legacy businesses. Now worth $3.8 billion, the company is a leader in bringing digital services to trucking and freight. We’re thrilled to have him on TechCrunch Live this week, along with Chris Howard, founding partner at Fuel Capital, which invested in Convoy’s… Continue reading Hear how to accelerate slow-moving industries on TechCrunch Live
Daily Crunch: Sheryl Sandberg is out at Meta, and Zuckerberg’s not looking for a new COO
To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. The SEC leapt in this week, charging 11 people associated with Forsage, which the government watchdog says was running a pyramid scheme. I’m not one to embrace drama, but I also can’t… Continue reading Daily Crunch: Sheryl Sandberg is out at Meta, and Zuckerberg’s not looking for a new COO
Chevy is offering up to $6,000 Bolt rebates — with a big asterisk
Chevy has started offering some Bolt owners rebates of up to $6,000 as a “goodwill reimbursement” for anyone who bought one of the battery-powered EVs shortly before the company made them significantly cheaper. However, as Jalopnik points out, taking the rebate means agreeing to never sue the company for any present or future issues with… Continue reading Chevy is offering up to $6,000 Bolt rebates — with a big asterisk
Faraday Future news suggests financing may be coming soon
Faraday Future is no stranger to financial struggles. After a series of unfortunate events, the EV start-up is pushing back the release of its production model, the FF 91. But, recent Faraday Future news suggests it may have found a short-term solution. Last week, Electrek reported Faraday Future Intelligent Electric Inc. was again delaying its… Continue reading Faraday Future news suggests financing may be coming soon